What is a source of financial assistance available for a mitigation program?

The correct choice embodies a collaborative approach to funding mitigation projects aimed at reducing flood risks. Property owners' cost sharing is a vital part of many mitigation programs as it involves the participation of the community in financing protective measures. This shared financial responsibility can enhance the commitment of property owners to the success of the mitigation initiative. By contributing their funds, property owners are more likely to engage actively in the planning and implementation of risk reduction strategies, ensuring that the measures adopted are practical and beneficial.

The other choices focus on individual or less collaborative methods of securing funds. Federal Emergency Funds for Minor Repairs serve a different purpose, addressing immediate post-disaster recovery rather than proactive mitigation efforts. Bank loans typically involve repayment and do not foster a community-centric approach, while personal savings accounts are inherently limited by what individuals can set aside, lacking the structured financial support necessary for comprehensive mitigation planning.